Mastercard Gold Card Review
March 24, 2020
Best for: High rollers and travelers looking for the crème de la crème of credit cards with airport lounge access and fee credits.
The Mastercard Gold Card boasts benefits and advantages as shiny and prestigious as its 24k gold-plated exterior. For the uncompromising luxury traveler, the Mastercard Gold offers access to a large collection of airport lounges all around the globe, complimentary airport escorts to speed you through security and check-in as well as a variety of travel protections. If you’re into refined travel full of the finer things in life and aren’t afraid of a high annual fee, the Mastercard Gold Card can provide you with an upgraded experience that can elevate any trip.
Best way to use this card
If you’re debating whether or not to invest in this card, one of your biggest concerns is probably whether or not you can cancel out that high annual fee. You’ll see the most value from this card by taking advantage of the card’s 2% redemption rate for cash back or airfare. But to truly make the most of this card and cancel out the high upfront cost, you’ll need to be a big spender that puts at least $50,000 or more per year on your card. Then, you’ll need to redeem all of those earned points for either cash back or airfare.
In addition to the travel or cash back redemption value, there are tons of secondary benefits for cardmembers you can leverage. If you’re a frequent traveler, for example, you are probably already familiar with the unpredictability of weather and the resulting travel delays. However, with the Mastercard Gold Card, you’ll automatically receive trip cancellation and trip interruption insurance. Plus, having access to thousands of airport lounges across the world as well as expedited screening, thanks to Global Entry or TSA Precheck certainly makes any trip far more pleasant.
In a nutshell
If prestigious perks are a make-or-break part of your travel experience, the Mastercard Gold Card might be a valuable option for you. But this luxury card only makes sense if you are a high spender and you’re able to recoup the high annual fee in the form of airfare and cash back rewards. If you don’t want to aim for those high spending targets or feel like you’d end up overspending in order to attempt to neutralize your high annual fee, there are other luxury travel cards with similar benefits with lower annual costs.
For example, the Chase Sapphire Reserve features a significantly lower annual fee of $550 and offers great travel earning rates. For example, you can earn 10X points per dollar spent on Lyft rides through March 2022. Plus, you can earn 3X points per dollar on travel and dining at restaurants. While the Mastercard Gold Card doesn’t have a sign-up bonus, Chase Sapphire Reserve cardmembers can receive up to 50,000 bonus points after spending $4,000 within three months of account activation. Both the Chase Sapphire Reserve and the Mastercard Gold Card offer travel protection benefits and no foreign transaction fees, so the right one for you will come down to your spending and lifestyle preferences.